The former Grand Island Area Chamber of Commerce building at 309 W. Second St. is going to be renovated and will feature 10 apartments and two office spaces. (Carol Bryant, Central Nebraska Today)
GRAND ISLAND – Grand Island’s City Council voted 6-2 Dec. 30 to approve a redevelopment plan for the former Grand Island Area Chamber of Commerce building at 309 W. Second St.
The City Council voted 6-2 to approve the plan. City Council Members Doug Lanfear and Doug Brown voted against the motion. City Council Members Ryan O’Neill and Mike Paulick were absent from the meeting.
Starkel Real Estate has purchased the building and is proposing to turn it into 10 one-bedroom apartments and two office spaces, according to Chad Nabity, Community Redevelopment Authority Director.
Starkel Real Estate purchased the building for $365,000. The business sought $609,673 in tax increment financing and estimated that total costs, including the TIF funding, will exceed $2 million.
Starkel Real Estate was awarded a $120,000 fire life safety grant for eight one-bedroom apartments planned on the second floor of the building. Two apartments and two office spaces would be located on the first floor.
City Council Member Doug Brown asked whether the $609,673 in TIF funding compared to a total cost exceeding $2 million was consistent with other TIF-funded projects. Nabity responded that TIF amount was consistent with other downtown projects.
The building currently does not have a sprinkler system. The apartments would be 600 square feet to 800 square feet in size and rent for approximately $1,200 a month, Developer Amos Anson said.
City Council Member Chuck Haase asked whether the Chamber of Commerce had received funds for updating the building. Nabity responded that the Chamber of Commerce had received $290,000 to renovate the building’s façade, and that improvement was important to Starkel Real Estate.
